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Friday saw NZD/USD sever support from Jan 11 low of $0.7147 and slide to a fresh weekly low. With little in the way local news/data flow at the start to this week, NZD/USD trades flattish at $0.7134.
- A sell-off past the 50-DMA at $0.7072 would allow bears to take aim at $0.7084, the low print of Dec 28, 2020. Meanwhile, a recovery of Jan 13 & 14 highs at $0.7240 would encourage bulls to target Jan 6 cycle high of $0.7315.
- Data highlights in New Zealand this week include card spending (Tuesday) as well as BusinessNZ M'fing PMI & CPI (Friday). Today's data dump due out of China will also provide interest.